Credit repair services are everywhere these days, but it helps to understand what they offer and which companies are best for your needs. In the interest of this, today we’re going to look at the credit repair company services you’ll come across, and which ones you absolutely need.
In the case of extras, we’ll also show you some of the potential options you may be interested in for your credit restoration.
The Services Credit Repair Companies Offer
At their core, credit repair companies offer a service that involves a three-step process:
Step One: Pull Reports
The first thing they will do is pull your credit reports from the three bureaus: Experian, Equifax, and TransUnion. Once they have these, they can begin looking through them in great detail for any potential disputes.
It’s worth noting that the bureaus all have different sources for how they generate your report. This can result in discrepancies, which in and of themselves, are disputable. Other options include late payments that weren’t actually late, multiple charge-offs when only one occurred, and others.
Step Two: File Disputes
The next step will be to act on these potential items that shouldn’t be on your report. To make the disputes as efficient as possible, your credit repair agency will also collect any evidence to support your claim before they send everything into the bureaus.
The bureaus themselves have up to 30 days to respond, so it’s important that these disputes are as accurate as possible. Depending on the company you choose for credit restoration, they will send out anywhere from a handful of disputes, up to 15 per month.
Some companies also file disputes with the credit card companies as well. This can be a great way of maximizing your potential for getting items removed.
Step Three: Evaluate and Repeat
The first round of disputes will hardly be the last. Once results start coming in, your company will look at the successes and prepare to appeal the ones that were denied with new evidence or a new approach. This is where credit repair can truly help.
Since there’s no set timeline for credit repair, everyone’s situation will be different. In some cases, a month or two will be sufficient, but in other cases it will take up to four months or more. What’s important, is that your service of choice continues to pursue potential items.
Potential Credit Repair Extras
Beyond the core services that credit repair companies offer, there are some potential extras that you may interested in having. Keep an eye out for options like these:
- Mobile apps to track progress
- Credit tracking and alerts
- Educational materials to help you build good habits
- Text or email alerts
Options like these are great, because they help you stay involved in the process. They also keep you in the loop for when anything changes or your assistance is needed in resolving a specific dispute. While not required by any means, these are options you may want to consider for your credit repair.
Now that you know about credit repair company services, check out our reviews to find out which company is right for you!